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- Britainâs third party
- ON THE morning of July 30th packed flights left from Johannesburg, in South Africa, to Harare, the capital of Zimbabwe. Scores of Zimbabweans were returning to vote in the countryâs first election since 1980 without Robert Mugabe on the ballot.
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- The Vice President, Shri M. Venkaiah Naidu with the newly elected Members of Legislative Assembly of the Meghalaya, in New Delhi on August 03, 2018.
- The Vice President, Shri M. Venkaiah Naidu interacting with the newly elected Members of Legislative Assembly of the Meghalaya, in New Delhi on August 03, 2018.
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- (16 minutes ago)
- The Comptroller and Auditor General (CAG) in its report has faulted the Goa governments industrial corporation for dishing out gold coins as mementos to its employees in commemoration of the golden jubilee of the institution, causing a loss to the state exchequer to the tune of Rs. 19.84 lakh.
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How title insurance can help homebuyersThe risk of a defective title may be mitigated through title insurance 'policy', a first of its kind product. Pakistan stocks just found a celebrity fanCLSA's Chris Wood said he finds the Pakistan market attractive and will be looking to buy stocks there. GST, IBC truly transformative: RBI Governor Urjit Patel These will shape, for the better, our economic evolution in the years and decades to come, said Patel. US June trade deficit posts biggest rise in 1-1/2 years In June, exports of goods and services fell 0.7 percent to $213.8 billion. Consumer goods exports decreased $1.4 billion, driven by a $0.6 billion drop in shipments of pharmaceutical preparations. China threatens new tariffs on $60 billion worth of US goods Donald Trump has threatened to slap tariffs on virtually all of China's exports to the United States in the tit-for-tat trade conflict. How title insurance can help homebuyers The Real Estate Regulation and Development Act, 2016 (RERA) came in to force a little more than a year ago. A lot has been said about how in the last one year not much has been achieved by it. However, there is one good thing that has been introduced by RERA-title insurance. The Act mandates the purchase of title insurance for all new and ongoing property developments registered with the regulatory body.HDFC Ergo, a general insurance company, has recently launched 'Title Insurance Policy', a first of its kind product in the private insurance segment in India. Essentially, it provides indemnity to developers and the subsequent owners of the property against losses and risks related to defects in the title arising out of third-party challenges.Now, before we tell you what title insurance covers, here is a look at why there is a need for such a product. Dispute due to title of property A big worry among home-buyers, especially now, is the delay in getting possession of their homes or even worse, the project itself getting stalled. One of the many reasons for a real estate project to get stalled is the claim by some other person on the land being owned by them and not by the builder or developer. A dispute of this nature arises primarily due to the claim on 'ownership', i.e., the 'title' of the property. Title refers to the legal ownership of the property established through the registration of the property documents. Every time, a property is sold and bought, the title. i.e., the ownership changes. And, this may lead to defects in the title itself. "Land records in India are not easily accessible due to lack of digital infrastructure. Moreover, the risk of faulty land records has grown quite high as cost of land across the country has grown exponentially in the last few decades," says Surendra Hiranandani, Chairman & MD, House of Hiranandani.These disputes can generally lead to long drawn court cases involving time and money. Not just for a new construction, such an incident may happen elsewhere too if any individual has bought land or a ready-to-move in property from another individual in a secondary sale transaction.Here is a look at what title insurance covers. What does title insurance cover?Unlike other insurance products, the insurance coverage in title insurance is not restricted to events happening in the future. Simply put, title insurance even covers issues not discovered prior to the commencement date of the policy. Some of the defects in the title may emerge because the title of property may belong to someone other than the insured or the previous deeds of the property being inadequate or because of one of the previous transaction being subject to an act of fraud or forgery by a third party. These incidences may adversely affect insured's rights over the title of the property.Coverage periodEven though the initial cost is borne by the builder, the society may have to pick the tag if required at a later stage. "The premium usually is payable in one single payment for the entire policy period, i.e., ranging from 7 years to 12 years. The policy can be further renewed for a period of 7 or 12 years by the housing society, on expiration of the policy," informs Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance.What is in it for home-buyers?Even though title insurance may not be available for home owners of individual land, it will stand to benefit society home-buyers. Once the title insurance policy is bought by a builder by paying the premium amount, it has to be subsequently assigned to the association of allotees of the housing societies, who are the ultimate beneficiaries of the policy. "The current policy is offered to developers with an indemnity limit of over Rs 5 crore, wherein the developments undertaken could be for corporate or residential projects. Having said that, we are evaluating the market for a product which could be offered to individual home owners as well," says Rastogi.In case of any claim by a third-party in the future, the title insurance can be invoked and can indemnify all the home-buyers to the extent of the loss incurred by them. All the defence or legal costs incurred including any out-of-court settlement are covered under the policy. This is in addition to a written affidavit that a builder has to provide to RERA that the legal title to the land on which the development is proposed has legally valid documents with authentication of such title if the land is owned by another person. Will it hike real estate prices?Insurance comes at a cost and there is a possibility that getting a title insurance plan could push up the price of the property. "Hopefully, if there a large number of takers the costs would fall. Right now it (the policy) is prohibitively expensive and would impacts costs and therefore prices," informs Hiranandani. On the other hand, Rastogi feels, "The premium will be a small fraction of property cost and we think this would not impact the property costs at all." In practice, the actual premium will depend on various factors. If the ownership involves a home loan, even the lending institution may be asked to share the cost as their interest is also involved. What should you do?RERA registered builders don't have an option but to get title insurance now. "While, title insurance has been developed stemming from the requirement of RERA that mandates its purchase, the product can be purchased even for non RERA registered properties which was built many years back," says Rastogi. Nothing stops a society association from getting a title insurance cover if there is an iota of a doubt about the title of the land. After all, with the insurance of the title of the land in place, any negative surprise can be kept at bay. JLR facing 'Perfect Storm', looking at urgent fix Natrajan Chandrasekaran, the chairman of Tata Motors told shareholders that Jaguar Land Rover is facing a "Perfect Storm" this year due to worries over diesel demand in Europe and Brexit worries in UK and the team is looking to find solutions on "an urgent basis."Speaking at the 73rd Annual General Meeting Chandrasekaran said, "The business lost operating leverage due to a combination of slowing demand and higher investments in capex and people. Hence profitability and cash flows were impacted. The entire team is aware of the issues and appreciates the urgent need to find solutions."Apart from the macro-economic headwinds, the automobile industry is undergoing dramatic change with technology disruptions in the form of Autonomous, Connected, Electric and Shared technologies requiring large investments, said the Chairman. The company on its part will be investing Rs 1.2 lakh crore in Jaguar Land Rover for the coming three to five years to be part of this disruptive change. "We are committed to deliver the EBIT margin of 4-7% between FY19-21 and will work closely with the JLR team to help them achieve the same," assured Chandrasekaran to shareholders despite the challenges. However despite the global headwinds the standalone entity has turned around. Chandrasekaran expressed satisfaction over a sharp turnaround in the domestic business. He reminded them as to how when he met shareholders for 72nd annual general meeting, the commercial vehicle business was losing market share, passenger vehicle was bleeding and stock was under performing, but things are much better on standalone front. The commercial vehicles segment has bounced back post the BS4 migration challenge to post robust share and profitability gains. All segments (with the exception of buses) showed strong growth in fiscal 2018. The volumes grew by 23.3% over fiscal 2017. The company ended the year with 45.1% market share compared to 44.4% share in the previous year. The passenger vehicle business has launched strong products with the latest being an SUV Nexon which has helped in gaining market share and reducing its losses. The volumes grew by 19% over fiscal 2017. The company ended the fiscal 2018 with 5.7% market share compared to 5.1% share in the previous year. He informed shareholders that the business has overall turned cash positive after 5 years. The company on a standalone basis had free cash flows (after considering capex) of Rs 1,330 crores, first time in the last 5 years. The standalone revenues increased to Rs 58,457 crores in fiscal 2018 compared to Rs 44,431 crores in fiscal 2017, demonstrating a strong growth of 31.6%.The business turned profitable on an underlying basis and delivered an EBIT of Rs 535 crores compared to a EBIT loss of Rs 1,385 crores in the previous year. The loss after tax for fiscal 2018 was at Rs 1,035 crores, significantly lower than Rs 2,430 crores in the previous year.In FY-18, Tata Motors consolidated revenues, net of excise, stood at Rs 2,94,243 crores, 9.0% higher as compared to the previous year, mainly due to the growth in the India business and higher wholesale volumes in JLR. The consolidated profit after tax (before minority interest) was higher at Rs 9,091 crores, a growth of 20.3% compared to Rs 7,557 crore in the previous year.The consolidated debt was higher by Rs 10,346 crore at Rs 88,950 crore, mainly due to higher capital expenditure and lower cash flow from operations on a consolidated basis. Adani emerges biggest winner of city gas licences NEW DELHI: Billionaire Gautam Adani's group today emerged as the biggest winner of gas retailing licences, winning rights to selling CNG in 11 cities including Allahabad.Adani won rights to retail CNG to automobiles and piped cooking gas to households in six cities on its own and another five in joint venture with state-owned Indian Oil Corp (IOC), according to results of 48 out of the 86 cities that were bid out in the country's biggest city gas distribution (CGD) bid round.According to the Petroleum and Natural Gas Regulatory Board, IOC on its own won rights to four cities.Bharat Gas Resources Ltd, a unit of state-owned Bharat Petroleum Corp Ltd (BPCL), won a licence for six cities, the same number for which Torrent Gas Pvt Ltd too made winning bids.State gas utility GAIL's retailing arm, GAIL Gas managed rights for three cities.When the bid round closed last month, IOC, BPCL and Adani Gas Ltd were the top bidders.Of the 86 cities offered for retailing of CNG to automobiles and piped cooking gas to households in the 9th CGD bid round, IOC bid for 34 cities on its own and another 20 in partnership with Adani Gas Ltd. Adani Gas on its own bid for 32 cities.Bharat Gas Resources Ltd bid for as many as 53 cities while GAIL Gas Ltd put in offers for 34 cities.Gujarat-based Torrent Gas Pvt Ltd bid for 31 cities while Gujarat Gas Ltd put in offers for 21 areas.Petronet LNG Ltd, India's largest liquefied natural gas (LNG) importer, sought to foray into CGD business by bidding for the licence in seven cities. Indraprastha Gas Ltd, which retails CNG in the national capital region, put in bids for 11 cities.According to PNGRB, Adani Gas won rights to Surendranagar, Barwala, Navsari, Kheda and Porbandar districts in Gujarat as well as Balasore in Odisha. Its joint venture with IOC, Indian Oil-Adani Gas Pvt Ltd won Kannur in Kerala, Gaya in Bihar, Bulandshahr, and Allahabad in Uttar Pradesh.IOC won Aurangabad in Bihar, Rewa in Madhya Pradesh and Jagtial in Telangana.In a statement, PNGRB said the 9th CGD Bidding Round was launched on April 12 for development of city gas networks for the 86 Geographical Areas (GAs) which includes 174 districts (156 complete and 18 part), spread over 22 States and Union Territories (UTs) in India."Based upon the bids evaluations PNGRB in its 79th Board meeting held on August 3, approved issue of Letters of Intent (LoI) to the 18 successful bidders for 48 GAs," it said.The regulator said bids for remaining GAs are being evaluated and outcome of the same will be announced shortly. JLR is facing 'Perfect Storm', Co. looking at solution on urgent basis Natrajan Chandrasekaran, the chairman of Tata Motors told shareholders that Jaguar Land Rover is facing a "Perfect Storm" this year due to worries over diesel demand in Europe and Brexit worries in UK and the team is looking to find solutions on "an urgent basis."Speaking at the 73rd Annual General Meeting Chandrasekaran said, "The business lost operating leverage due to a combination of slowing demand and higher investments in capex and people. Hence profitability and cash flows were impacted. The entire team is aware of the issues and appreciates the urgent need to find solutions."Apart from the macro-economic headwinds, the automobile industry is undergoing dramatic change with technology disruptions in the form of Autonomous, Connected, Electric and Shared technologies requiring large investments, said the Chairman. The company on its part will be investing Rs 1.2 lakh crore in Jaguar Land Rover for the coming three to five years to be part of this disruptive change. "We are committed to deliver the EBIT margin of 4-7% between FY19-21 and will work closely with the JLR team to help them achieve the same," assured Chandrasekaran to shareholders despite the challenges. However despite the global headwinds the standalone entity has turned around. Chandrasekaran expressed satisfaction over a sharp turnaround in the domestic business. He reminded them as to how when he met shareholders for 72nd annual general meeting, the commercial vehicle business was losing market share, passenger vehicle was bleeding and stock was under performing, but things are much better on standalone front. The commercial vehicles segment has bounced back post the BS4 migration challenge to post robust share and profitability gains. All segments (with the exception of buses) showed strong growth in fiscal 2018. The volumes grew by 23.3% over fiscal 2017. The company ended the year with 45.1% market share compared to 44.4% share in the previous year. The passenger vehicle business has launched strong products with the latest being an SUV Nexon which has helped in gaining market share and reducing its losses. The volumes grew by 19% over fiscal 2017. The company ended the fiscal 2018 with 5.7% market share compared to 5.1% share in the previous year. He informed shareholders that the business has overall turned cash positive after 5 years. The company on a standalone basis had free cash flows (after considering capex) of Rs 1,330 crores, first time in the last 5 years. The standalone revenues increased to Rs 58,457 crores in fiscal 2018 compared to Rs 44,431 crores in fiscal 2017, demonstrating a strong growth of 31.6%.The business turned profitable on an underlying basis and delivered an EBIT of Rs 535 crores compared to a EBIT loss of Rs 1,385 crores in the previous year. The loss after tax for fiscal 2018 was at Rs 1,035 crores, significantly lower than Rs 2,430 crores in the previous year.In FY-18, Tata Motors consolidated revenues, net of excise, stood at Rs 2,94,243 crores, 9.0% higher as compared to the previous year, mainly due to the growth in the India business and higher wholesale volumes in JLR. The consolidated profit after tax (before minority interest) was higher at Rs 9,091 crores, a growth of 20.3% compared to Rs 7,557 crore in the previous year.The consolidated debt was higher by Rs 10,346 crore at Rs 88,950 crore, mainly due to higher capital expenditure and lower cash flow from operations on a consolidated basis. - India vs England 1st Test LIVE: Ishant Sharma provides breakthrough straight after lunch
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- पहलॠà¤à¥ ठपनॠà¤à¥à¤®à¥à¤¡à¥ सॠशॠमà¥à¤ à¤à¤¾à¤¨ फà¥à¤à¤ दà¥à¤¤à¥ थॠसà¥à¤¨à¥à¤² à¤à¥à¤°à¥à¤µà¤°, दà¥à¤à¤¿à¤ à¤à¤¨à¤à¥ पहलॠशॠà¤à¤¾ वायरल वà¥à¤¡à¤¿à¤¯à¥
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- âà®à®¾à®£à®¿ ராணி à®'ழிà®â … பிà®à¯ பாஸ௠2 à®à®¸à¯à®µà®°à¯à®¯à®¾à®µà¯à®à¯à®à¯ à®à®¤à®¿à®°à®¾à® நà¯à®à¯à®à®¿à®à®©à¯à®à®³à¯ à®à¯à®à¯à®à®²à¯
- Best smartphones under Rs 20,000 you can buy in August 2018: From Honor 9N to Moto G6
- Best smartphones under Rs 20,000 you can buy in August 2018: From Honor 9N to Moto G6
- Huawei sees smartphone shipments rebounding in 2018 to over 200 million
- UIDAI Aadhaar helpline number added to people’s contacts, body blames ‘vested interest’
- UIDAI Aadhaar card helpline number added to people's contacts, body blames 'vested interest'
- RSMSSB LDC, clerk exam 2018: No shoes, full arm shirts allowed; check dress code
- Light Rain
- People walk past the London headquarters of the Royal Bank of Scotland
- US jobs growth slows more than expected
- Amazon tax bill falls despite profits leap
- Apple's market value hits $1 trillion
- à¤à¤ªà¤à¥ फ़à¥à¤¨ मà¥à¤ à¤à¥à¤¨ पà¥à¤¶ à¤à¤° रहा हॠUIDAI नà¤à¤¬à¤°
- The bank sees first-half profits fall, but announces an interim dividend of 2p a share.
- RBS to pay first dividend in 10 years
- Youth injured in security force firing in Kupwara
- Will work out strategic alliances to beat BJP but shun AAP, Sena : Congress
- Spanish pilots union sues Ryanair over contracts
- Debate on Parliament (Enhancement of productivity) Bill commences in Rajya Sabha
- Chandigarh startup to launch women driver cab for women commuter
- BJP MP slams Congress on Mehul Choksi episode
- IkkJutt Jammu calls for abrogation of Article 35-A
- A team of judges to inspect infrastructure for Jalpaiguri circuit bench
- SAD announces 16 district presidents of partyâs farmer wing
- MARKET-GUJ-BULLION
- NEW DELHI, AUG 3
- Kawasaki motorcycle launched Ninja 300,in New Delhi on Friday. UNI PHOTO-117U
- Vogue Wedding Show-2018 organised its sixth edition of Indiaâs luxury bridal exhibition,in New Delhi on Friday. UNI PHOTO-116U
- Vogue Wedding Show-2018 organised its sixth edition of Indiaâs luxury bridal exhibition,in New Delhi on Friday. UNI PHOTO-115U
- Vogue Wedding Show-2018 organised its sixth edition of Indiaâs luxury bridal exhibition,in New Delhi on Friday. UNI PHOTO-114U
- Vogue Wedding Show-2018 organised its sixth edition of Indiaâs luxury bridal exhibition,in New Delhi on Friday. UNI PHOTO-113U
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Friday, August 3, 2018
Latest News Headlines Fri Aug 3 18:42:16 IST 2018
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